I am currently using a Raspberry PI for my Website testing environment, but I want to try virtual, since I have a virtual server running. I will allocate 512MB RAM with 10GB of hard drive space. If this works as expected, I will repurpose or retire my PI. 
Just upgrade from 18.04 LTS to 20.04 LTS to 22.04 LTS. Worked great and no issues! 
1 2 3 4 | Distributor ID: UbuntuDescription: Ubuntu 22.04.2 LTSRelease: 22.04Codename: jammy |
PHP was upgrade as well:
1 2 3 4 5 | php --versionPHP 8.2.5 (cli) (built: Apr 14 2023 04:27:02) (NTS)Copyright (c) The PHP GroupZend Engine v4.2.5, Copyright (c) Zend Technologieswith Zend OPcache v8.2.5, Copyright (c), by Zend Technologies |